Metals e-Market Survivor

BuyStainlessOnline creates real-time inventory listing for suppliers

Bensalem, PA.  July 20, 2001  Metals e-marketplace survivor BuyStainlessOnline reported this week that it had created a real-time inventory listing for one of its 50 stainless steel suppliers.

"In a market where our competitors have faltered due to lack of technological advantages, we have proven that it doesn't take 200 million dollars to fund a proper web business," said Mason Fine, president of the e-marketplace, which was founded in 1999 and opened for trading in January 2000.

BuyStainlessOnline describes itself as "the Internet's first 100-percent stainless steel only Web site." The company's site allows users to obtain electronic quotes and to post items for auction. Sellers pay an annual membership fee of $250.

The online metals market has hit hard times recently, with sites, and ceasing trading. Fine has said that his site anticipates reaching profitability by the end of 2001.